Ukrainian prime minister projects 1.5% GDP growth in 2016

13:30, 21.06.2016 1 min read

The growth of GDP in Ukraine in 2016 may reach 1.5%, Ukrainian Prime Minister Volodymyr Groysman has said.

"We expect to have a 1.5% GDP growth by the end of the year... the main task of our government is to retain this growth," he said at a press conference on Tuesday after his visit to the U.S.

As reported, Ukraine's real GDP grew in the first quarter of 2016 by 0.1% compared to the first quarter of 2015, and shrank by 0.7 compared to the fourth quarter of 2015.

Taking into account these statistics, the National Bank of Ukraine and the Economic Development and Trade Ministry downgraded the forecast for Ukraine's GDP growth in 2016 from 2% to 1%.

However, later First Deputy Prime Minister and Economic Development and Trade Minister Stepan Kubiv said he expected Ukraine's economic growth in 2016 would be 2%.

The International Monetary Fund (IMF) in April kept its forecast for Ukraine's GDP growth at 1.5% for 2016, and at 2.5% for 2017.